It was brought to our attention that Lake America was erroneously labeled as Lake “Ontario” on our website.
We have corrected this mistake and apologize for deadnaming the lake.
Lost city 'perfectly matches' Biblical site where Jesus fed the 5,000... as humble birthplace of Keeper of Heaven's Keys is uncovered https://t.co/JQpSwEAHNg
The numbers behind the US-Venezuela oil deal:
Venezuela has now confirmed that the agreement covers 65 billion barrels of oil across 17 fields, with the US receiving "majority control."
At current WTI crude oil prices of ~$83/barrel, those reserves have a gross market value of ~$5.4 trillion.
Reports indicate the deal includes 100-year rights to develop the fields, while the US will receive 55% effective output, along with an ownership stake and rights to purchase oil at cost.
At 55%, that would correspond to ~35.8 billion barrels of effective output.
At today’s oil prices, that amount of crude alone has a gross market value of ~$3 trillion.
That said, Venezuela primarily produces heavy, sour crude, which typically trades at a meaningful discount to benchmark oil prices and requires more expensive production, blending, and refining.
Even assuming an illustrative $25-$35 of net economic value per barrel after discounts and development/operating costs, ~35.8 billion barrels could represent up to ~$1.25 trillion of cumulative economic value over the life of the fields.
This includes a $100 billion investment to develop these fields, while Venezuela estimates the projects will generate $209 billion in tax revenue for the country.
This is one of the biggest energy deals in history.
This oil deal with Venezuela is absolutely insane.
President Trump just announced that the US has reached a deal to secure "majority control" of over 65 billion barrels of Venezuelan oil reserves.
Furthermore, the US currently has ~46 billion barrels of proven crude oil reserves.
Combined with the 65 billion barrels covered by this agreement, the US would have domestic reserves plus control over ~111 billion barrels of oil.
To put this into perspective, the entire world has roughly 1.57 TRILLION barrels of proven crude oil reserves.
In other words, the US is set to control ~7.1% of all proven oil reserves in the world under this new agreement with Venezuela.
At ~111 billion barrels, the US would be almost exactly in-line with the United Arab Emirates, which has 113 billion barrels of proven crude reserves, and it would exceed Kuwait's 102 billion barrels.
Assuming the agreement is structured as outlined in President Trump’s announcement, the implications for global energy markets will be enormous.
We will publish more in-depth analysis soon.
100% false.
We told NBC that, but they just lie w/ anonymous “sources.”
My only job: Make @DeptofWar Great Again.
Carry on Patriots, and enjoy your Friday night.
It’s Friday, and yet another fight has broken out between kids at the Gallery Place-Chinatown metro station in downtown Washington DC. (five straights day in a row now!)
At least five people (who all appear to be juveniles) have been put into handcuffs, with some being loaded into prisoner transport vans. DC Police, Metro Transit Police, and the FBI remain on scene for crowd control...
🎥: Anonymous Submission/Our On-Scene Video